401k Participant Responsibilities
I know I am a off target, but I’m trying to find out where to get the answer to this question.
I am working with a woman who is divorcing her husband.
She has discovered numerous loans against his 401k that she had no knowledge of.
Isn’t there a need for spousal consent for loans from a 401k?
Also, he was a participant in this plan before he was married.
It seems that he did not tell his employer to change is status with the 401k.
Is there a responsibility for a participant to do that?
Permalink Submitted by Nathan Kastner on Wed, 2024-04-24 14:04
Do you live in a community property state? Unless yes, spousal consent is not typically required.
Permalink Submitted by Tim Seiders on Wed, 2024-04-24 14:35
Thank-you.